Luxembourg, 26 January 2018: Deutsche Oel & Gas Group reported a successful year of production in 2017, further consolidating its market position as Alaska’s second biggest private natural gas producer.
Production of 5.7 billion cubic feet of natural gas topped the previous year’s value of 3.8 billion cubic feet by 50%. Production revenue rose 39% from USD 25.5 million to USD 35.4 million. Since the start of production in November 2015 Deutsche Oel & Gas Group has produced 9.7 billion cubic feet of natural gas as of 31 December 2017, with revenue totalling USD 62.1 million.
“Owing to the considerable increase in natural gas production and production revenue, 2017 was a successful year for us. With these results, we have exceeded our forecasts. The market environment is currently shaping up to be very favourable for 2018. For this reason, we are optimistic about the upcoming drilling season,” said Kay Rieck, Chairman of the Board of Directors of Deutsche Oel & Gas S.A.